For this matter, understanding the Social Security Trust fund and the means by which it operates, manages debt, and has evolved over the past years to represent what we see today is extremely important facet of understanding the future of governmental finance, taxation and prospects for retirement both for the current generation of retirees as well as our own generation.
The project will throw light on the urban economic perspective of Cape Town, the second most populated city in South Africa. The city is considered to be the legislative capital of the nation. The city is located on the shore of Table Bay. It is in the northern region of Cape Peninsula.
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The definition and types of economics systems The production, distribution, and allocation of goods and services may define an economics system. The combination of these sectors makes up the economic structure of different economies. There are four main types of economics systems, namely; the mixed economic system, market economies, command economic systems, and the traditional economic system.
The role of the government in a free market economy is limited to providing public goods like defense, roads which no individual would pay for. There is also a need for a strict legal framework to maintain law and order in the country. The government would also need to interfere in case of market failure situations.
It is worth noting that the collapse of the mortgage market was necessitated by Fed lax on the money market. The Federal Reserve addresses the economy by regulating financial institutions, setting monetary policies and operating the countries payment systems.
It is argued that unlike regions that are in East Asia or Latin America, the Islamic nations have negatively responded to globalization. The main reason as to why the Middle East has vehemently opposed globalization is the lack of previous cultural penetration in the Islamic world by the Western institutions, ideas and culture.
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The global environment is a complex background for changing the development of organizations, individuals, groups and governments. A great number of external factors exert an evident influence on economic, political, technological and social factors. In the case of globalization, non-linear patterns of organizations’ functioning can be present.
According to the paper healthcare economics encompasses all factors that ensure viable implementation of healthcare services. The research delves on the suppliers and users of healthcare services. Health production or promotion concepts or models incorporate economic principles. The health economics principles include the supply theory.
They also point out that strategy is not the same as strategic plans. Strategic planning is the formal process that takes place, usually in larger organisations, defining how things will be done. However strategy exists in all organisations even though it may not be written down and articulated.
Multi, in this context, may mean more than one and national may mean countries or nations.There are a number of famous companies which we deal with. These companies are famous around the world rather than just operating in their host countries.
In simple words it can be explained that there are only a limited amount of resources available to produce the unlimited amount of goods and services that we desire. It’s a question everyone asks how to manage the scarce and limited resources that are available to us, who should be given preference to use them and how the resources can be best utilized.
However, the said goods have to be legal goods. Free Trade Zones, abbreviated to FTZ are also known as Foreign-trade zones or exporting Processing zones in some quarters. These zones are usually situated in areas with several advantages to trade like good infrastructure, availability of labor, since they involve a lot of manual laborers and availability of quick and reliable transport.
This is often experienced through changes in the real gross domestic product of the country. The business cycle often passes through different phases which categorizes as to whether the economy is passing through either contraction, expansion or at the no movement level.
The theorem states that “If the local non-satiation condition for consumers is satisfied and [(x0i), (y0j), (Ф)] is a competitive equilibrium, then the allocation [(x0i), (y0j)] is Pareto optimal.” Before the proof is done, three conditions have to be defined, the first condition being that an allocation of resources is feasible, and the second condition being that the allocation of resources is utility maximizing for individual consumers at the price given.
Today, professional team sports are steadily reaping increased profits from sale of television broadcasting rights, team merchandise, and tickets (Eschenfelder & Li, 2007:26). The sort of income that professional team sports receive is enormous and is a major part of the gross domestic product of countries.
This paper discusses the theories of liberalism, economic nationalism and structuralism with anent critical application to the World Trade Organization (WTO). This further asserts that liberalism and structuralism dominate and applies to the WTO system as an organization that is weaving global influence in the world political economy.
Consumers are willing to purchase SUVs regardless of their price variations because they believe that larger and tough vehicles would protect them in an accident. However, gasoline prices can have an inverse effect on the demand of Toyota SUVs. To illustrate, the Toyota SUV market experienced significant sales declines in 2006 when gasoline price reached $3 a gallon.
The four-firm concentration ratio measures the output that is produced by four top firms in an industry. There are six firm concentration ratios and eight firm concentration ratios. Concentration ratio is usually used to measure the extent of oligopoly and the degree to which the largest firms control a market.
In a closed economic country, all economic activities are conducted within the boundary of the country. Such an economy means the country does not accept imports from other countries and does not export to foreign countries. The main objective of this type of economy is to make everything available for people within the confines of the economy.
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The vision 2030 is, therefore, the pillar to many developments. The following are the benefits that are expected by the vision: Vision 2030 is meant to have a significant impact on the economy, the society at large and also to the natural environment. The economy should have developed up to the desired levels, and in turn the lives of the people of Qatar would have also taken a new dimension.
Report on the UK Petrol Market. The UK petrol market is important and dynamic. Since the publication of the Monopolies and Mergers Commission in 1990, there has been increased competition. The emergence of large supermarkets dealing in petrol has led to the decline of the major non-supermarket dealers such as Esso and Shell.
President Obama fought his election while living in Chicago that is one of the busiest cities of Illinois. The state often called microcosm for the entire country has been facing time of serious crisis since the financial recession that destroyed its economy in 2007.
The political background of a country is an important determinant in the economic development of a nation. Therefore, it is in this backdrop the assessment should be made for better understanding of the divergence between these countries in economic performance in proper perspective.
To put the discussion into perspective, a brief profile of each of the companies will be given. To begin with, BP is a renowned international gas and oil company operating in over 80 countries as reported by Fisk, Swint and Calkins. Its two segments deal with exploring and producing gas and oil products and refining and marketing these products.
This essay analyzes that Merger is not easy to do an activity and involves incorporation of two big organizations. A company could decide to merge because of many reasons, like provide capacity utilization, to gain economies of scale, to gain access to new suppliers, distributors, customers etc. Although Merger is not always helpful to the society.
Evaluation of such issues shows why the transition in the economic system is real regardless of the criticism of capitalism by some scholars and socialists and communists. Although some economic systems in the world have their own benefits, they may not be able to contribute to a universal system that will incorporate all the people
Conclusions or Policy Suggestions 5 References 7 Appendix 8 Appendix 1 8 Appendix 2 9 1. Introduction Recently, increasing significance of international trade has been in turn augmenting competition in the global context along with contributing to the increasing socio-political interdependency of various nations through overlapping trade frameworks.
However, I find a born of contention in Marr’s a statement that, we all evolved from one mitochondrial woman-Eve. I believe this might not be the case because the mitochondrial Eve means the universal antecedent to all present humans on the matrilineal line and the nature of humanity must have potential mothers due to existence of diverse genes.
Time of use-lower price at a lower peak and a higher price during peak times. The time the unit is bought, for instance discount is given for buying early. The major principle behind this price discrimination is that airline businesses are trying to utilize various price elasticities of demand (Holloway 25-29).
They are one of the most prestigious and credible companies in the world, as far as medical industry is concerned because of their long history of serving the people in an admirable manner. “Strong sales and marketing infrastructure is another strength of Pfizer”(Pfizer: Swot analysis, n.
Positive statements can be structure in terms of what occurred in the past, what is occurring in the present and future probable economic outcomes. For instance an economist may state that lowering the prime rate will cause the inflation of the nation to go down.
investment, energy, materials and labor. The best example of labor and land production in agriculture can be seen in the Green Revolution. The Green Revolution that spreads 40s to 70s has seen the new grain techniques that lead to significant production across the world.
This was seen as a major source of income for the developing countries, but only the dependence on primary exports brought very less income to the firm. Import substitute industrialization Import substitute industrialization is a trade strategy, which has become highly popular in the developing countries.
This is because, the state has control over the Federal reserve’s in its bank. When, the Federal Reserve influences its discount rate, open market operation and reserve requirement on depository institutions, it affects the demand for and supply of balances that these institutions hold at the Federal Reserve Banks.
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2008-2009 Economic Crisis. Introduction In economics, a recession refers to a business cycle reduction. It refers to a general retardation of economic activities (Simon, 2001). Macroeconomic pointers like Gross Domestic Product (GDP), investment spending, employment, capacity utilization, household income, inflation and business profits fall.
This type of assumed Gross Domestic Product is often referred to as potential gross domestic product and is often presented in budget statements (Thoma, 2012). It has however not always turned out that the potential gross domestic product values are achieved.
This model is among the most popular standard macro models that explains different characteristics of an open economy. An open economy is an economy in which a country trades with other countries in goods, services, and financial assets (Redseth 2000). Most of the economies in the current world are open due to globalization of trade.
Observing the consumer behavior is an important part of business strategy as it influences the design of the product, the way it is marketed and priced. Identifying why, when and how a consumer chooses a particular product is important for any company. They can decide whether to continue, halt or alter the production of the particular product only if they know what aspect of the product most of the customers love or hate.
The magnitude of economic cost is dependent on the value of the foregone benefits of the best alternative and the cost of the alternative selected. The main difference between accounting cost and economic cost is that the later factors in the concept of opportunity cost (Boyes & Melvin, 2011).
Economic development of India and China. Introduction The economic growth of China and India has triggered much interest in the world. Economists have had extensive arguments and counterarguments on how the Asian economic giants managed to grow and cut a niche for themselves in the global economy.
Ultimately, it led to downturn in economic activity, reduced consumer wealth, and the subsequent 2008-2012 global recession. As a result, there have been variant explanations to the causes of the financial crisis of 2007–2008. Michael Lewis is one of the financial analysts that seek to explain the financial crisis of 2007–2008 through his book called The Big Short.
The process of developing the Poverty Reduction Strategy Paper (PRSP) involves drafting by the government of the country, generally the Ministry of Finance. It requires consultation from the International Finance Institutions (IFIs), the major donors that help the economic development of the country and the civil society for which this development strategy is undertaken.
A Critical Evaluation on the Claim that an Increase in Economic Growth does not Necessarily Lead to an Increase in Human Well-Being A critical evaluation on the claim that an increase in economic growth does not necessarily lead to an increase in human well-being Economic growth as a measure of the economic activity has been in existence since the times of ‘wealth of the nations’ by Adam Smith.
In this paper a specific role of microeconomics is explored: how microeconomics can be used for explaining the effects of an economic bailout on the daily life of a city’s life. Reference is made in particular to Detroit and the consequences of the city’s bailout on the citizens from a microeconomics perspective.
For several decades, looking at another human being in a worthless way has been conventional. Nevertheless, it is only recently that human beings have taken the trouble to look at discrimination as a problem in a number of areas. There is no society which has been spared from the menace of discrimination.
Such a phenomenon occurred during the late 18th century and continued till the beginning of the 19th century. This development took place in the European countries, particularly, in England and France. According to some researchers and historians, the root of this revolution lies in the innovation of new machineries and introduction of improved and mechanized methods of production (Craig and Thomas 253).
This essay primarily focuses on the identification of the distinctive features of two most common economic system in the world. Free market is an economic system that is determined by the price mechanism. A mixed economy is a combination of a free market and planned economies. Free market economy is deemed more effective compared to a mixed type.
Over the recent past, the global economy has been faced with a lot of uncertainties associated with fluctuations of prices. The stability of an economy is as well determined by many factors including preceding and current economic conditions. Therefore, the study of economics is considered a significant aspect as it helps individuals.
China is one of the largest and powerful nations of the world economy. The economic growth of China has been one of the fastest growing in the world. Recently China has faced slowdown due to an economic slowdown in the world. Still, the country has achieved a GDP growth rate of more than 6 percent in the years following the crisis.